Florida real estate exam chapter 4 Flashcards

Florida real estate exam chapter 4 Flashcards A transaction brokerprovide limited presentation to both parties Policy and procedure manuals areUseful in maintaining good relationship as an agent a broker is employed by and acts on behalf of a principal When can an agent disclose confidental or harmful information about a principal never Faireness and honesty are required of all licensees in which relationships any realestate transaction Which fiduciary duty would a broker breach by failure to advice a principal regarding the value of owners property prior to accepting a listing Disclosure which activity does not exemt from the requirement to provide disclosure under the brokerage relationship disclosure act showing property to a party that is not being represented This signature or intials of a party is required by the broker relationship disclosure act on which form.Consent to transition to transaction broker broker John just receiveda n oral offer to purchase listed property. No earnest money accompanied the oral offer.John Must present the offer Broker Tom sold a property listed with broker Alice. Tom was unable to attened the closinga nd broker Alice collected the entire commission. Should Alice refused to pay broker Tom his share of the commission,broker Alice could be charged with Failure to account Abroker has appointed two sale associates to act as agents in a non residential transaction , one for the seller and on e for the buyer.Which is correct The sales associates are reffered to as designated sale associates Agents relationship in real estate are not controlled byThe department of finacial srevice Mary an Ohio broker accompanied a customer to Florida and met with broker Stan in his office in Jackson villa.While Stan showed the customer property and optained a binding contact for the purchase of a condominum, Mary took some time off and went to beach on returning to Stan's office Mary discovered Stan had written a contract and demand a share of the commission. Which statement is correct.Stan may share the commission with Mary a general agency relashionship exists when a sales associate is employed by a broker who owes fiduciary duties in an agency relationshipthe broker only Both parties in a transaction can pay broker a commission when Both party agree to the dual commission

Which transaction is not included in the defenisition of a residential transaction Disposition of business intrest involving property of five or more residential units A brokerMust folloe all leagal instructions of the principal or withdraw In an agent relationship an agent mustAttempt to obtained the most favorable price and terms on behalf of the pricipal Which relationship is not adversearial.Fiduciary